PANews, July 13 - According to a report from Cable News, Hong Kong's Secretary for Financial Services and the Treasury, Xu Zhengyu, stated in an interview that the first phase will issue only a small number of stablecoin licenses. As for whether a renminbi stablecoin can be issued, he said that there are no restrictions on the pegged currency in the law, but if it involves currencies from other regions, discussions with relevant institutions may be necessary. The government has also released a policy declaration on the development of digital assets 2.0, which suggests promoting the 'tokenization' of financial assets. Xu Zhengyu mentioned that Hong Kong already has experience in issuing tokenized green bonds, and the next step is expected to extend to exchange-traded funds (ETFs), and he believes that research into using tokens for commodity trading, such as metals, can also be considered.
